Intraday Market Thoughts

Archived IMT (2009.04.14)

by Ashraf Laidi
Apr 14, 2009 8:56

Dollar regains footing in late Asian /early European trade after being falling sharply across the board in thin Holiday trade. USDJPY remains near session lows at 99.40 as yen strength dominates all major currencies. The timing of Goldman Sachs' decision to announce earnings after yesterday's closing bell and one day before schedule raises questions about the firms preference to reduce negative reaction to the dilutive effect of its $5 billion offering. While Q1 earnings were well above expectations, the decision to issue new shares pushed the stock lower in overnight trading. Wells Fargos decision to release earnings one week before schedule helped boost the stock during thin pre-holiday trade in an already rising market. US Mar retail sales due at 12:30 pm GMT.


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